aims of the private sector Flashcards
(8 cards)
1
Q
what are the 7 aims of the private sector?
A
profit maximisation,achieving quality,survival,customer satisfaction,increase market share,social responsibility and innovation
2
Q
explain profit maximisation
A
to make as much profit as possible
3
Q
explain achieving quality
A
to provide the highest standard of product/service
4
Q
explain survival
A
to continue to exist from one year to another
5
Q
explain customer satisfaction
A
to ensure your customers are happy with their purchase
6
Q
explain increase market share
A
to gain more customers relative to your competitors
7
Q
explain social responisibilty
A
to act in a responible way towards the enviroment,your community and wider society
8
Q
explain innovation
A
to create new and unique ideas
